diff --git a/conformance/results/mypy/aliases_newtype.toml b/conformance/results/mypy/aliases_newtype.toml
index e1c8c64a..f4c4bc85 100644
--- a/conformance/results/mypy/aliases_newtype.toml
+++ b/conformance/results/mypy/aliases_newtype.toml
@@ -1,6 +1,6 @@
 conformant = "Partial"
 notes = """
-`NewType`s are considered classes, not functions.
+`NewType`s are incorrectly considered to be classes.
 """
 output = """
 aliases_newtype.py:11: error: Argument 1 to "UserId" has incompatible type "str"; expected "int"  [arg-type]
diff --git a/conformance/results/results.html b/conformance/results/results.html
index 151069d7..6cbe8f00 100644
--- a/conformance/results/results.html
+++ b/conformance/results/results.html
@@ -468,7 +468,7 @@ <h3>Python Type System Conformance Test Results</h3>
 <th class="column col2 conformant">Pass</th>
 </tr>
 <tr><th class="column col1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;aliases_newtype</th>
-<th class="column col2 partially-conformant"><div class="hover-text">Partial<span class="tooltip-text" id="bottom"><p>`NewType`s are considered classes, not functions.</p></span></div></th>
+<th class="column col2 partially-conformant"><div class="hover-text">Partial<span class="tooltip-text" id="bottom"><p>`NewType`s are incorrectly considered to be classes.</p></span></div></th>
 <th class="column col2 conformant">Pass</th>
 <th class="column col2 partially-conformant"><div class="hover-text">Partial<span class="tooltip-text" id="bottom"><p>Does not reject use of NewType in `isinstance` call.</p><p>Does not reject use of NewType in class definition statement.</p><p>Does not report inconsistency between name of NewType and assigned identifier name.</p><p>Does not reject use of NewType with generic class with TypeVar.</p><p>Does not reject use of NewType with protocol class.</p><p>Does not reject use of NewType with TypedDict class.</p><p>Does not reject use of NewType with Any.</p></span></div></th>
 <th class="column col2 conformant">Pass</th>
diff --git a/conformance/tests/aliases_newtype.py b/conformance/tests/aliases_newtype.py
index 713b0bf8..58baeb8a 100644
--- a/conformance/tests/aliases_newtype.py
+++ b/conformance/tests/aliases_newtype.py
@@ -1,5 +1,5 @@
 """
-Tests the `typing.NewType` function.
+Tests the `typing.NewType` type constructor.
 """
 
 # Specification: https://typing.readthedocs.io/en/latest/spec/aliases.html#newtype
@@ -14,12 +14,12 @@
 
 assert_type(UserId(5) + 1, int)
 
-# > NewType('Derived', Base) returns a dummy function
-_: type = UserId  # E: functions are not instances of `type`
+# > NewType('Derived', Base) returns a dummy object
+_: type = UserId  # E: `NewType()` does not return an instance of `type`
 
-# > Both isinstance and issubclass, as well as subclassing will fail for
-# > NewType('Derived', Base) since function objects don’t support these
-# > operations.
+# > Both ``isinstance`` and ``issubclass``, as well as subclassing will fail
+# > for ``NewType('Derived', Base)``, since the object returned by a call to
+# > ``NewType`` is not a class.
 isinstance(u2, UserId)  # E: not allowed in isinstance call
 
 
diff --git a/docs/spec/aliases.rst b/docs/spec/aliases.rst
index adf30344..a965eca4 100644
--- a/docs/spec/aliases.rst
+++ b/docs/spec/aliases.rst
@@ -156,9 +156,9 @@ to a definition::
       def __init__(self, _x: Base) -> None:
           ...
 
-While at runtime, ``NewType('Derived', Base)`` returns a dummy function
-that simply returns its argument. Type checkers require explicit casts
-from ``int`` where ``UserId`` is expected, while implicitly casting
+While at runtime, ``NewType('Derived', Base)`` returns a dummy object
+that simply returns its argument when called. Type checkers require explicit
+casts from ``int`` where ``UserId`` is expected, while implicitly casting
 from ``UserId`` where ``int`` is expected. Examples::
 
         UserId = NewType('UserId', int)
@@ -176,7 +176,7 @@ from ``UserId`` where ``int`` is expected. Examples::
 ``NewType`` accepts exactly two arguments: a name for the new unique type,
 and a base class. The latter should be a proper class (i.e.,
 not a type construct like ``Union``, etc.), or another unique type created
-by calling ``NewType``. The function returned by ``NewType``
+by calling ``NewType``. The callable returned by ``NewType``
 accepts only one argument; this is equivalent to supporting only one
 constructor accepting an instance of the base class (see above). Example::
 
@@ -193,5 +193,8 @@ constructor accepting an instance of the base class (see above). Example::
   tcp_packet = TcpPacketId(127, 0)  # Fails in type checker and at runtime
 
 Both ``isinstance`` and ``issubclass``, as well as subclassing will fail
-for ``NewType('Derived', Base)`` since function objects don't support
-these operations.
+for ``NewType('Derived', Base)``, since the object returned by a call to
+``NewType`` is not a class.
+
+See also :ref:`protocol-newtype-aliases` for a discussion of how
+``NewType`` interacts with protocol definitions.
diff --git a/docs/spec/protocol.rst b/docs/spec/protocol.rst
index 50b64f37..39e7a82a 100644
--- a/docs/spec/protocol.rst
+++ b/docs/spec/protocol.rst
@@ -514,6 +514,7 @@ For example::
   a: ProtoA = C  # Type check error, signatures don't match!
   b: ProtoB = C  # OK
 
+.. _`protocol-newtype-aliases`:
 
 ``NewType()`` and type aliases
 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^